Labor says NSW Premier Mike Baird needs to say whether his office offered any "inducements" to investment bank UBS before the firm watered down a potentially damaging report on his electricity privatisation plans.
It's been reported the 14-page document titled "Bad for the budget, good for the state" was sent to investors this week but quickly reissued with a title simply saying "Good for the state".
The reissue also included an addendum outlining "additional benefits to the state" generated by the planned 49 per cent lease of poles and wires.
Mr Baird has admitted his office called UBS, which is also advising the state government on its privatisation plans, with complaints about the report but claims the bank was going to revise the document anyway.
Labor Leader Luke Foley says the premier has serious questions to answer.
"Were inducements made? Was pressure brought to bear? There's many questions to be answered here," he told reporters on Thursday.
"What was Mr Baird's role? Did Mr Baird direct one of his people to place a call to UBS and put pressure on them to reissue their advice?"
Mr Baird denied personally directing his staff to call UBS when asked about the issue while campaigning in the Hunter.
Asked when it was that his office learned about the report and who they spoke to at the firm, the premier said the issue had been dealt with by UBS.
"The managing director of UBS made a statement on this yesterday," Mr Baird said.
"He has dealt with it. End of story."
UBS has been contacted for comment.
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